Bumble

Bumble IPO Moves Forward, Could Value The Company At $1.1 Billion

Bumble
  • Thursday, November 22 2018 @ 09:36 am
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Bumble continues to dominate dating industry headlines. In recent months, the company continued its high-profile legal battle with Match Group, debuted in India with the help of actress Priyanka Chopra, launched a fund to invest in women-founded companies, and announced an upcoming line of beauty products. Bumble also revealed that it is exploring an IPO, a rare move in the dating space.

“Our revenue is remarkable, and it is only going to get better,” Bumble founder Whitney Wolfe Herd told Forbes in September. “There is a need for a new IPO in this space, and we offer something that nobody else offers. This would allow us to really spread our wings at a new level.”

Plans for the IPO appear to be moving forward. Andrey Andreev, the majority shareholder of Bumble’s parent company, publicly discussed a possible Nasdaq listing with Bloomberg in October. “We’re now in very deep discussions with banks,” including JPMorgan Chase & Co., he said. “The listing would be on the Nasdaq. It’s been in the air for ages, but the serious consideration has happened only recently -- in the past month.”

Bumble Moves To Drop $400 Million Lawsuit Against Match Group

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  • Thursday, November 15 2018 @ 08:49 am
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Is the end in sight for the legal battle between Match Group and Bumble?

According to documents filed in Texas last month, Bumble is looking to drop its $400 million countersuit against Match Group, which alleged Match interfered with its business operations, fraudulently obtained trade secrets, and intentionally tried to make Bumble less appealing to other potential acquirers. The countersuit was filed in response to a lawsuit from Match that claims Bumble infringed on several patents related to Tinder.

Initial attempts to settle failed and the war appeared poised to rage on, but a statement released by Match Group in early November indicated that Bumble will drop its lawsuit. A notice of non-opposition filed by Match confirms the company’s intent to support Bumble dropping its claims, provided the court issues declaratory judgments validating Match’s patents and Bumble’s alleged infringement of them, and absolving Match from allegedly stealing Bumble’s trade secrets.

Bumble Launches in India with Partner Priyanka Chopra

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  • Thursday, November 08 2018 @ 10:32 am
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Priyanka Chopra and Whitney Wolfe Herd at the launch dinner for Bumble India
Image: BFA.com/Zach Hilty

Bumble announced the launch of its female-friendly app in India with a celebrity dinner at the Gramercy Hotel in New York.

CEO Whitney Wolfe Herd joined Indian actress Priyanka Chopra, who just partnered with Bumble to bring the app to her home country. They hosted a dinner for women of Indian heritage who are at the top of their respective fields to celebrate the launch.

According to Forbes who reported on the event, attendees included Vanity Fair’s Radhika Jones, Hillary Clinton’s former political staffer Huma Abedin, Teen Vogue’s Samhita Mukhopadhyay, Saks Fifth Avenue’s Roopal Patel, fashion designer Anita Dongre, and Girls Who Code co-founder Reshma Saujani. The Daily Show’s Aasif Mandvi was also in attendance.

Bumble Introduces Desktop App And Gets Serious About IPO

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  • Wednesday, October 17 2018 @ 09:28 am
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Bumble Web for Date
Image: bumble

Hold the (smart) phone. After years as an app-only platform, Bumble has launched a web version of its popular dating service for use on laptops, desktops, and tablets.

Bumble announced the news with a blog post and video that offer a glimpse of the sleek, user-friendly Bumble Web experience. Current users can access their accounts on www.bumble.com by signing in via their usual method (Facebook or phone number). New users still need to create an account through the app before using the browser version, but Bumble promises that functionality is coming to Bumble Web soon. If you don't see the "Sign In" button yet on the Bumble website toolbar, check back soon as Bumble Web may not yet be available in your area.

Once signed in, the simple interface displays existing chats and matches in a column to the left of the screen. Potential new matches appear to the right. Users can scroll through a profile using the up and down arrow keys or by clicking the up and down arrows at the top and bottom of the profile. To like or pass on a profile, use the left and right arrow keys or click the two prominent icons at the bottom of the screen.

Bumble Set To Launch In India With Priyanka Chopra As An Investor

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  • Thursday, October 11 2018 @ 09:25 am
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Priyanka Chopra invests in Bumble

Bumble is on track to debut in India later this year, with an unexpected investor and advisor by its side: actress and philanthropist Priyanka Chopra.

"I've always believed that investing in women is key to social transformation and economic growth,” Chopra explained in a statement released by Bumble. “Women want love, they want friendship and they want to find a career, and that's the uniqueness of what Bumble delivers.”

“I’m inspired by the real, positive change Bumble is creating and I’m proud to have the opportunity to contribute to this movement as a partner,” she added.

Bumble Moves Forward With Match Group Countersuit, Sets Sights On IPO

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  • Tuesday, October 02 2018 @ 11:39 am
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The battle between Bumble and Match Group is entering a new round, and Bumble is taking the gloves off. Nearly six months after countersuing Tinder’s parent company for $400 million in damages, Bumble has announced it is no longer open to settling privately. Match Group and Bumble are heading to court.

“We had considered a private opportunity to settle privately, and that’s something we’re no longer open to,” Bumble founder and CEO Whitney Wolfe Herd told Fortune. “Now we are ready to take it to court.”

Match Group threw the first punch in March, filing a lawsuit alleging that Bumble “copied Tinder’s world-changing, card-swipe-based, mutual opt-in premise” and accusing two Tinder-turned-Bumble employees of violating their confidentiality agreements.

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